India's Sensex Heads for Longest Stretch of Gains in a Month
(Bloomberg) -- Indian shares advanced, pushing the benchmark equity index toward its longest string of gains in a month.
The S&P BSE Sensex added 0.2 percent to 36,713.15 as of 10:28 a.m. in Mumbai, set for a fourth day of gains. The NSE Nifty 50 Index rose 0.1 percent.
Easing geopolitical tension, a week after skirmishes at the India-Pakistan border, has helped buoy sentiment toward equities. India’s election commission may announce dates for national elections any time for a poll expected to be held in April and May.
Strategist View
“We remain cautiously optimistic on Indian markets going into the elections,” said Sunil Sharma, chief investment officer at Sanctum Wealth Management Pvt.
The Numbers
- Fourteen of 19 sector sub-indexes compiled by BSE Ltd. rose, led by a gauge of capital goods companies
- Larsen & Toubro Ltd. was the best performer on the benchmark index after saying it won contracts potentially worth 25 billion to 50 billion rupees
- Biocon Ltd. fell as much as 3% after its Bengaluru facility received six observations from U.S. FDA
Analyst Notes/Market-Related Stories
- M&M Financial Rated New Buy at Haitong International
- Bharti Airtel to Raise INR320B Via Rights, Perpetual Bond Issue
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